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Starwood Hotels & Resorts (HOT) PT Lowered to $81 at Canaccord Genuity Post Marriott (MAR) Deal Announcement
December 4, 2015 9:04 AM ESTCanaccord Genuity maintained a Buy rating on Starwood Hotels & Resorts (NYSE: HOT), and cut the price target to $81.00 (from $93.00), following the company's announced deal for HOT's hotel business to be acquired by Marriott (NASDAQ: MAR). News of the deal came after HOT agreed to sell its timeshare business to IILG for stock equivalent to 5% of the combined company.
Analyst Ryan Meliker commented, "On November 16, HOT and MAR... More
